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Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
 The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into the new year) has kept the pressure on all dry bulk segments, pushing the indices down to levels not seen in very long time. The BDI ended the week at 862 points (-18.1%), a last reached just after the Lehman Bros shock in October and November 2008.
The individual segments read as follows: the BCI dropped to 1,554 (-9.8%), the BPI and the BSI to 1,020 (-19.3%) and 807 (-16.9%) respectively, and the BHI slipped to 485 points (-9.0%). All sizes continued to head south at the start of the new week.
Capesize
Another severe drop in the Capesize 4TC this last week as China prepared for its New Year celebrations, removing any possibility of a turnaround in the near term. At $6,688 per day by close on Friday, this represents the lowest level for eight months, and a 27% drop on the previous week. At these levels, lay-up has again become a reality. The Atlantic market saw the biggest decline with Bolivar-east Med dropping as much as 10% and Tubarao- Rotterdam 6%. In the Pacific, trade was fairly brisk but rates remained flat to slightly negative at $7.60-$7.65. Tubarao- China dropped 3% to $19.55 by Friday and was reported as low as $19.35. However in the FFA market, activity suggested rates may be close to a bottom, and overall Feb+Mar and Cal12 closed the week up, at $10,529 (+679) and $12,958 (+334). Monday saw another fall in the 4TC however, and the Cape time charter average is now trading at a 6% discount to the Handies.
Panamax
Last week saw the decline in Panamax rates continue unabated in the face of limited fresh cargoes and an ever growing tonnage list. The Atlantic market remained under pressure with the 1A index falling back from $10,731 to $7,824, and 2A index from $21,183 to $18,127. One of the primary drivers behind this trend (besides the distinct lack of cargo) has been the sheer number of ballasters arriving from the East. High coal stockpiles, uncertainty surrounding forward demand for both iron ore and steel products, and the imminent lunar New Year holidays have depressed demand in the Pacific, forcing many owners to search for business elsewhere. Both 1A and 2A markets have subsequently been hammered, with many fixtures in fact being reported at levels well below that of the current index. The supply side is unlikely to improve any time soon, as many newbuilds initially slated for delivery at the end of 2011 are pushed back into Q1 2012. The outlook in the coming weeks remains bearish, with reported 3-5 month period rates declining below $10,000 per day basis delivery Far East. There are some commentators who believe rates should decline less sharply in the coming week or two, although likewise it is also difficult to argue in favour of any sharp improvement.
Supramax/Handy
The Handy/Handymax market saw rates heading south throughout last week although at a slower pace than their larger cousins. The week started at almost $10,000 and closed at $8,500 for the Supras and $7,600 down to $6,900 for the Handies. A remarkable achievement in an otherwise dull market largely affected by the holidays in the Far East. No area was spared except maybe for South America where some activity started, together with the grain exports out of Argentina. That being said, the reduction of the available draft in the river is affecting owners’ revenue.
The rest of the world has been severely hit with the USG taking the biggest hit since there were reports last week of a TES 58 fixing at $13,500 for a trip to the Continent. Period activity has come close to zero, with no one willing to commit, although some index-linked deals randomly surface.
BRS wishing their Chinese readers a Gong Xi Fa Cai.
Source: Barry Rogliano Salles
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Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- The Treasury - Australian Government
- Australian Coal Association
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
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